bluemoon2895:
-Will my startup experience hold weight for M7 b-schools?
It depends on how much success you have had and how long you have been working on your startup. I would need to evaluate this effort with more detail to better understand if your top choices would consider it to be a bona fide experience. Have you been doing this in lieu of full-time work at an employer? Don't get me wrong, these schools accept people who start their own companies all the time, but it all comes down to how you demonstrate effort, success, lessons learned, etc.
-Which schools should I apply for that I have a reasonably good chance of getting admitted and getting a scholarship.
If scholarship money is important, you need to go well outside of M7. You should start looking at schools that are ranked Top 15 - Top 25. The M7 schools are difficult to get into as is, and I am not sure your profile is going to qualify you for serious merit-based money. I agree that bumping your GMAT score from 710 to 750 is incredibly critical for admissions and scholarships.
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